DALLAS, Oct. 17, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) has secured more than $250M in new contracts across its wireless and wireline telecommunications customer base over the last three quarters, signaling increasing capital spend by major U.S. carriers and private network providers in the race to deploy 5G networks.
Under the terms of these contract awards, Jacobs will perform radio-frequency design, engineering, site acquisition, construction, network integration and optimization services for a broad range of network architectures – LTE, Consolidated Radio Access Networks (CRAN), First Responder Networks (FirstNet), Internet of Things (IoT), fiber backhaul, in-building distributed antenna systems and smart cities.
"Over the past several years, our business has evolved from being a single service provider to a turnkey solutions provider for our telecommunications clients, and we are seeing positive results," said Jacobs Aerospace, Technology, Environmental and Nuclear Senior Vice President Steve Arnette. "The execution models required to deliver the quality, scale and speed-to-market our customers need in the race to 5G are transforming daily, and we are well positioned to meet their requirements."
The new network will require more sites and in-building solutions for the type of coverage consumers have come to expect. Because of this, an increase in capex spending across the industry is expected from new site construction through network connectivity – primarily in the fiber optic network expansion.
Jacobs is uniquely situated within the industry to contribute to the 5G development. Its broad spectrum of services and abilities, coupled with the company's demonstrated performance as a leader in the telecommunications industry, is essential to its Jacobs Connected Enterprise suite of capabilities that serve to connect, protect and analyze operational systems and data of customer networks.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
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